MDM Bank Has Acted as MLA for USD100 mln Syndicated Loan for International Bank of Azerbaijan

28.07.2010

MDM Bank has acted as a Mandated Lead Arranger of a US$100 million, three-year Syndicated Term Loan Facility for the International Bank of Azerbaijan OJSC (IBA).

This is IBA’s first three-year syndicated loan, successfully extending the bank's tenor profile. The loan was arranged by Credit Suisse International, the Coordinating Mandated Lead Arranger, together with Mandated Lead Arrangers MDM Bank OJSC, J.P. Morgan PLC, and JSC Halyk Bank.

IBA, based in Baku, is the largest bank of the Republic of Azerbaijan, holding 43.5% of the country’s banking sector assets as of December 31, 2009, and operating 37 branches throughout the country.  Established in 1990 as the successor to the Azerbaijani branch of the USSR’s Vnesheconombank (VEB), IBA is 50.2% owned by the Ministry of Finance of Azerbaijan.

IBA is rated BBB- by Fitch Ratings and Ba2 by Moody’s Investors Service.

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